Higher Price, Lower Costs? Minimum Prices in the EU Emissions Trading Scheme
研究了欧盟排放交易体系中引入价格下限的条件，发现适度的最低价格可将欧盟气候政策成本降低最多30%，且最优最低价格约为非ETS部门平均边际减排成本的4倍。
Abstract In this paper, we examine the introduction of a price floor in an emissions trading system (ETS) when some emissions are regulated outside the ETS. We theoretically characterize the conditions under which a price floor enhances welfare. Using a numerical simulation model of the European Union (EU), we find that moderate minimum prices in the EU ETS can reduce the costs of EU climate policy by up to 30 percent. We also find that, because of tax‐interaction effects, the optimal minimum price in the EU ETS should be about four times higher than the average marginal abatement cost in non‐ETS sectors.